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Macroeconomics  |  August 31, 2012 12:56:00

Eurozone unemployment rate stagnated at the highest level in history

The seasonally adjusted number of people out of work in the countries of the euro area in July is expected to once again increased by 88,000 to a record 18.0 million and the unemployment rate remained unchanged at 11.3%, announced Statistical Office. In June, a significantly higher number of unemployed and the unemployment rate after revision increased from 11.2% to 11.3%. Continues rapid growth that began in the third quarter of 2011. In the same period last year in the euro area was less than 16 million people out of work and the unemployment rate 10.1%.

Unemployment was highest in Spain (25.1%) and Greece, the lowest in Austria (4.5%) and the Netherlands (5.3%). In Germany, the unemployment rate stagnated fourth consecutive month to 5.5% and was the lowest since reunification, while in France climbed to the highest level in history, 10.3% in Italy remained at a record high 10.7%.

Across the EU27, the number of unemployed persons increased by 43,000 to a record 25.254 million and was 2.1 million higher than a year ago. The unemployment rate remained unchanged third consecutive month to 10.4%.In the Czech Republic declined by 0.1% to 6.6%, the Slovak Republic jumped by 0.2% to 14.0% and in Poland stagnated at 10.0%.

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